Global hydraulic equipment Market Analysis and Insights

The global Hydraulic Equipment market estimated at US$70.3 billion in the year 2024 is now projected to grow at a CAGR of 7.42% and reach US$124.6 billion by 2030. The market’s growth can be attributed majorly to the increasing demand for hydraulic equipment in sectors such as construction, industrial machinery, mining, automotive, aerospace, mechanized agricultural implements and machinery, forestry machines, material handling equipment, conveyor machines, oil and gas drilling and exploration equipment.

Increasing adoption of material handling equipment across industries is a major booster for the growth of the market. There is an increasing potential of the construction industry, which induces increased adoption of automated heavy construction vehicles equipped with hydraulic cylinders for various operations. The increasing adoption of material handling equipment across industries such as agriculture, construction and mining has also increased the demand for hydraulic cylinders.

Government initiatives to revive infrastructural projects across the country have helped the demand for hydraulic cylinders to grow, owing to their increased adoption in construction and material handling industries. Increasing farm mechanization across regions, especially in all the Asia Pacific countries and increasing mining exploration activities have also promoted the growth of this market.

Other major factors poised to influence growth patterns include development of energy efficient hydraulics, increased R&D focus on formulating innovative hydraulic fluids, growing investments in industrial automation and the ensuing demand for motion and control technologies, and rising focus on predictive maintenance of hydraulic equipment/systems & the ensuing increase in parts replacement frequency, and advancements in electro-hydraulic automation.

Hydraulic equipment market regional insights

North American hydraulic equipment market is expected to grow significantly over the forecast period. This growth can be attributed to the rising demand for machinery and equipment for applications in growing manufacturing, agriculture, mining, and oil and gas sectors in the US and Canada. US contributed around 78% of the total North American hydraulic equipment market and is estimated to have a market value of US$19.3 billion in the year 2024. Among the other noteworthy geographic markets are Canada and Mexico, each forecast to grow at 5.65% and 4.38% respectively over the 2024-2030 period.

Asia Pacific hydraulic equipment market is anticipated to witness an upsurge owing to the rapid urbanization and the growing industrial sector in the region. To boost productivity and decrease downtime, significant OEMs in the region, particularly in nations like China, Japan, India and Australia, are implementing automated and semi-automated material handling equipment. The region’s hydraulics industry is expanding due to the rising demand for material handling equipment. China is expected to dominate the Asia-Pacific market and reach a market size of US$26.1 billion by 2030.

Within Europe, France, Germany, and the U.K. are the key countries responsible for the significant growth of the regional market. Germany is expected to grow at a fastest CAGR of 5.22% over the forecast period.

Meanwhile, the Middle East & Africa is expected to show limited growth due to the strong presence of under-developed countries in Africa who are still struggling to meet technology standards. However, any growth that the region experiences is expected to come from developing Middle Eastern nations such as Qatar, U.A.E, Saudi Arabia and Oman due to a similar growth pattern as the Asia Pacific.

Key players

Key players profiled in the report include Atos Spa; Bailey International LLC; Bosch Rexroth AG; Crane Aerospace & Electronics, Inc.; Daikin Industries Ltd.; Danfoss A/S; Kawasaki Heavy Industries Ltd.; KYB Co., Ltd.; Linde Hydraulics GmbH & Co. KG; Nabtesco Corporation; Nachi-Fujikoshi Corp.; Parker Hannifin Corporation; Tokyo Keiki, Inc.; Weber-Hydraulik GmbH; Wipro Infrastructure Engineering Ltd.; Yuken Kogyo Co., Ltd., among others.

Competitive landscape

September 18, 2024 – Hitachi Construction Machinery Co., Ltd. and Marubeni Corporation reached an agreement in August to establish ZAMine Service Brasil Limitada, a sales and services company for mining machinery in Federative Republic of Brazil. Both companies plan to invest 50% to create a special purpose corporation, which will invest 100% in the sales and services company.

April 23, 2024 – Bosch Rexroth announced that it has developed a scalable portfolio of servohydraulic drives for compressors in the power range between 10 and 280 kW in partnership with collaboration with FirstElement Fuel, the market leader for the commercial operation of hydrogen filling stations in the USA. With a connection rating of 280 kW, it compresses liquid hydrogen to 875 bar for the direct refueling of heavy trucks.

Global hydraulic equipment market scope

• By Technology
  • Mobile
  • Industrial

• By Product Category
  • Hydraulic pumps
  • Hydraulic motors
  • Hydraulic cylinders
  • Hydraulic valves
  • Hydraulic filters
  • Others

• By Sensors
  • Pressure sensors
  • Flow sensor
  • Position sensor
  • Tilt sensor
  • Level sensor
  • Temperature sensor
  • Others

• By Industry Vertical
  • Manufacturing
  • Construction
  • Automotive
  • Aerospace and defense
  • Railway
  • Agriculture and forestry
  • Others

• By Region
  • North America
  • South America
  • Europe
  • Asia Pacific
  • Middle East and Africa

The research report  provides a comprehensive review of market trends, market growth drivers, PEST Analysis, Market growth inhibitors, and strategic industry activities and SWOT Analysis of key players in the market.

The report provides market estimates and forecast for geographic markets such as the North America (US, Canada, Mexico and Rest of North America), South America (Brazil, Argentina and Rest of South America), Europe (Germany, France, U.K., Russia, Italy, Spain, Sweden, Netherlands, Poland, Austria, Norway, Switzerland, Denmark and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Taiwan, India, Australia and Rest of Asia-Pacific), Middle East (Iran, Turkey, Kuwait, UAE, Israel and Rest of Middle East) & Africa.